U.S. Bancorp (NYSE:USB) Price Target Lowered to $48.00 at Wells Fargo & Company

U.S. Bancorp (NYSE:USB) had its price target cut by equities research analysts at Wells Fargo & Company from $50.00 to $48.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 20.85% from the company’s previous close.

USB has been the subject of a number of other research reports. Royal Bank of Canada increased their target price on shares of U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. UBS Group increased their target price on shares of U.S. Bancorp from $35.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Barclays decreased their target price on shares of U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday. Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Finally, Jefferies Financial Group increased their target price on shares of U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $46.77.

U.S. Bancorp Stock Up 0.5 %

Shares of USB traded up $0.20 during mid-day trading on Thursday, hitting $39.72. The company’s stock had a trading volume of 4,119,491 shares, compared to its average volume of 8,715,569. The company’s 50-day moving average is $42.33 and its 200-day moving average is $39.72. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $45.85. The firm has a market capitalization of $61.89 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 2.12 and a beta of 1.05. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.05.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The firm had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the prior year, the company earned $1.16 EPS. The company’s revenue was down 6.4% compared to the same quarter last year. On average, equities research analysts forecast that U.S. Bancorp will post 3.87 EPS for the current fiscal year.

Insider Transactions at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the transaction, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the transaction, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the transaction, the insider now directly owns 144,236 shares in the company, valued at $6,255,515.32. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

Institutional investors have recently made changes to their positions in the stock. CGC Financial Services LLC acquired a new stake in shares of U.S. Bancorp during the fourth quarter valued at about $25,000. BKM Wealth Management LLC acquired a new position in shares of U.S. Bancorp in the fourth quarter valued at approximately $26,000. Planned Solutions Inc. acquired a new position in shares of U.S. Bancorp in the fourth quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of U.S. Bancorp in the first quarter valued at approximately $30,000. Finally, Naples Money Management LLC acquired a new position in shares of U.S. Bancorp in the fourth quarter valued at approximately $30,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.